iShares MSCI Spain ETF (NYSEARCA:EWP) Stock Cross Above Fifty Day Moving Average – Here’s Why

iShares MSCI Spain ETF (NYSEARCA:EWP) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $53.91 and traded as high as $56.95. iShares MSCI Spain ETF shares last traded at $56.86, with a volume of 644,899 shares trading hands.

iShares MSCI Spain ETF Stock Up 1.0%

The stock has a market capitalization of $1.90 billion, a PE ratio of 10.89 and a beta of 0.86. The firm’s fifty day moving average price is $53.91 and its two-hundred day moving average price is $50.40.

Hedge Funds Weigh In On iShares MSCI Spain ETF

A number of institutional investors and hedge funds have recently modified their holdings of EWP. Royal Bank of Canada increased its position in iShares MSCI Spain ETF by 14.0% during the first quarter. Royal Bank of Canada now owns 14,860 shares of the exchange traded fund’s stock valued at $565,000 after acquiring an additional 1,830 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in iShares MSCI Spain ETF in the second quarter worth about $206,000. Cyndeo Wealth Partners LLC bought a new stake in shares of iShares MSCI Spain ETF during the 2nd quarter valued at about $259,000. Monument Capital Management increased its position in shares of iShares MSCI Spain ETF by 0.4% during the 2nd quarter. Monument Capital Management now owns 86,998 shares of the exchange traded fund’s stock valued at $3,831,000 after purchasing an additional 329 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new stake in shares of iShares MSCI Spain ETF during the 2nd quarter valued at about $586,000. 38.17% of the stock is currently owned by hedge funds and other institutional investors.

About iShares MSCI Spain ETF

iShares MSCI Spain Capped ETF, formerly iShares MSCI Spain Index Fund, is an exchange-traded fund. The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Spanish market, as measured by the MSCI Spain Index (the Index). The Index seeks to measure the performance of the Spanish equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.